defense fund. thank you for being here. they said the u.s. will be the largest global oil producer in 2020. this amazing. tell about the sea change in global energy floes today. >> it is great to have more american-made energy but not good enough. we need to modernize our energy grid. it's not good enough to be the best at producing energy the last century. we will spend a couple trillion dollars modernizing the grid. the question is how we do it. hopefully, we do it in a way that protects us from cybersecurity risks, that makes the grid more resilient from storms, that facilitates energy efficiency and renewable, cleaner energy in the future. >> it's interesting. i think we all want to be energy independent. we want -- and we know the country is rich in natural gas. for the most part people don't want it in my backyard. former ge ceo jack well. compared it to the internet boom in terms of job creation and productivity increases. how do you balance it? how do you balance the economic boom we could see of fracking with the environmental impact? >> look, the economic advantages are obvious.